Spectrum Asset Management Inc. NB CA Has $461,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Spectrum Asset Management Inc. NB CA increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,925.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,820 shares of the information services provider’s stock after buying an additional 4,582 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $461,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Renaissance Investment Group LLC boosted its position in Alphabet by 1,887.0% during the 3rd quarter. Renaissance Investment Group LLC now owns 96,329 shares of the information services provider’s stock worth $9,876,000 after buying an additional 91,481 shares during the period. Fifth Third Bancorp boosted its position in Alphabet by 1,905.1% during the 3rd quarter. Fifth Third Bancorp now owns 4,069,164 shares of the information services provider’s stock worth $389,215,000 after buying an additional 3,866,227 shares during the period. Denali Advisors LLC boosted its position in Alphabet by 2,012.7% during the 3rd quarter. Denali Advisors LLC now owns 7,500 shares of the information services provider’s stock worth $717,000 after buying an additional 7,145 shares during the period. Vista Wealth Management Group LLC raised its holdings in Alphabet by 1,914.6% during the 3rd quarter. Vista Wealth Management Group LLC now owns 25,847 shares of the information services provider’s stock worth $2,650,000 after purchasing an additional 24,564 shares during the last quarter. Finally, Rovin Capital UT ADV raised its holdings in Alphabet by 1,929.3% during the 3rd quarter. Rovin Capital UT ADV now owns 8,178 shares of the information services provider’s stock worth $782,000 after purchasing an additional 7,775 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Evercore ISI lowered their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. The Goldman Sachs Group lowered their price target on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Royal Bank of Canada lowered their price target on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Wells Fargo & Company lowered their price target on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Finally, Bank of America lowered their price target on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Price Performance

GOOGL opened at $91.12 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The company has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 1.62 and a beta of 1.09. The firm’s fifty day moving average price is $92.94 and its two-hundred day moving average price is $101.88. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Alphabet Company Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.